Lenders agreeing to settle NPAs through 'bad bank': FM Sitharaman

Speaking on Asset Recreation Company or Bad Bank Union Finance Minister Nirmala Sitharaman said that government come up with bank driven solution rather than government solution. "Banks themselves are agreeing to form something like a hoarding company, cull out bank assets and put them in these companies which will do the job. We have come up with a bank-driven solution and not government driven solution. I am glad RBI is also working with banks," said Nirmala Sitharaman.